The investment bank said the purchase of Japanese crypto exchange Bitbank is a bet on regulated scale as sweeping reforms reshape the country's digital asset market.

SBI Holdings has agreed to a nearly $289 million deal to acquire crypto exchange Bitbank, pending regulatory approval.

SBI Holdings is moving to buy Bitbank in a deal that could reshape Japan’s crypto exchange market. The planned takeover, involving regulatory review,

SBI said the acquisition, which is subject to regulatory approval, is set to close in October.

The investment bank said the purchase of Japanese crypto exchange Bitbank is a bet on regulated scale as sweeping reforms reshape the country's digital asset market.